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Surviving The Great Resignation 5 STEPS TO PREPARE FOR THE BUMPY ROAD AHEAD BY SUSAN PALÉ
You’re probably sick of hearing about The Great Resignation, but listen up! Not only isn’t it going away, it is gaining momentum. Consider the following statistics from the U.S. Department of Labor:
• • • •
3% of the total U.S. workforce left their jobs in September. That is an astonishingly high number. As of Nov. 5, 2021, there were 11.2 million job openings in the U.S. That is also a record. Education and health services lost more than 50,000 workers in September. Remember that these are essential workers. 300,000 women left the workforce in September.
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These are jaw-dropping statistics. For employers who want to recruit, retain, and expand in 2022, the challenges are daunting. There are some actions you should take now to help prepare for the bumpy road ahead that will be 2022.
1.
Review Paid Salaries
If you typically award year-end salary increases, now is the time to determine whether you’ll award them and the amounts necessary to maintain both external competitiveness and internal equity. The challenge is that sometimes external competitiveness and internal equity are at odds. For example, entry-level pay has increased 15%-20% in many locations, and you may have needed to hire at those increased rates. That means some of your longer service CONTINUED ON PAGE 36 ›
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